Connect Access Card for Principles of Auditing & Other Assurance Services
Connect Access Card for Principles of Auditing & Other Assurance Services
21st Edition
ISBN: 9781260299366
Author: Ray Whittington, Kurt Pany
Publisher: McGraw-Hill Education
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Chapter 9, Problem 5RQ
To determine

Explain systematic selection and precautions for using the systematic selection for calculating the random sample.

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What is “tolerable misstatement”? How is this concept applied when auditors perform audit tests on a sample?
Discuss the differences between a first-party, second-party, and third-party audit. Discuss the importance of data accuracy and integrity in a quality information system.  What are the purposes of quality documentation systems? What would be the foremost characteristics of an acceptable sampling plan for critical defects?
In non-statistical sampling, _______.      the auditor determines samples size, sample selection methods, and evaluates the sample results on the basis of the professional judgment and the auditor’s own experience.     the auditor determines samples size, sample selection methods, and evaluates the sample results entirely on the basis of predetermined statistical parameters.     the auditor uses the internal audit function to gather samples     the auditor selects a sample of certain balance sheet accounts and exclusively audits them If an auditor wishes to draw attention to important information that is already presented or disclosed in the financial statements, the auditor would include a _______.      qualified opinion     disclaimer of opinion     emphasis-of-matter paragraph     scope limitation paragraph _______ are used near the end of the audit to assist the auditor in forming an overall conclusion about whether the financial statements…
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